3M may rise to 151.40 - 159.10

Our pivot point is at 116.7.

Our preference

As long as 116.7 is support look for 151.4.

Alternative scenario

Below 116.7, expect 103.8 and 96.2.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 123.5235 and 110.7302).

Supports and resistances

166.9 **

159.1 *

151.4 **

143.6

127.7 (USD-last)

121.8

116.7 **

103.8 *

96.2 **

Number of asterisks represents the strength of support and resistance levels.